DWD: October Unemployment Rates Announced

Contact: Rose Lynch (608) 266-6753

Adjusted Data

Madison – Wisconsin Department of Workforce Development (DWD) Secretary Roberta Gassman today announced that Wisconsin’s seasonally adjusted unemployment rate was estimated to be 4.5 percent in October, down from the 4.7 percent estimated for September, and down from the 4.7 percent for October 2004. The national seasonally adjusted rate was estimated at 5.0 percent in October, which was down from a 5.1 percent rate estimated for September. The national rate was 5.5 percent in October 2004.

Unadjusted Data

Wisconsin’s unadjusted unemployment rate in October was estimated at 3.8 percent, the state’s first month with an unemployment rate under 4.0 percent since 2001. October was also the lowest single month unemployment rate the state has experienced since September 2001, when the rate was also estimated at 3.8 percent. Wisconsin’s September 2005 unadjusted rate was estimated at 4.1 percent, and in October 2004 the state’s unadjusted rate was 4.0 percent. The national unadjusted rate for October was estimated at 4.6 percent.

“Wisconsin’s unemployment rate last month, the lowest in more than four years, is a strong indication that Wisconsin’s economy continues to rebound. We have made great strides toward a solid economic future and will continue our efforts to create job opportunities for all Wisconsin workers,” Secretary Gassman said.

Nonfarm jobs in the state were estimated at 2,862,200, an increase of 18,900 jobs over last year’s October figure. Particularly strong was construction, up 5,100 jobs from one year ago, professional and business services, up 5,400 jobs from last year, educational, health and social services, up 7,800, and leisure and hospitality services up 6,200. Construction employment in the state is on track to set the state’s annual monthly employment record and could top 131,000 jobs per month for the year, improving last year’s record-setting pace of 126,300 per month.

Manufacturing was down 3,700 jobs from last year’s October figure. Retail trade is also down from last year’s October figure with 6,500 fewer jobs and has been somewhat flat since June.

The number of unemployed people in the state, at 116,103, was the lowest monthly figure since September 2001.

Added Gassman, “Although we have made great progress, we still have pockets of the state where we have work to do.”

October employment and unemployment figures for individual counties will be available November 23, 2005. This release also is available at http://dwd.wisconsin.gov/dwd/newsreleases/.